Singer Island, Florida – Condo Market Update: 2012

wreg singer island 1 Comment

SINGER ISLAND

Singer Island, Florida

Thank You to all of our customers who made 2012 another banner year for Walker Real Estate Group. With “Season” upon us, the traffic to Singer Island has already started to increase. The real estate market has seen a major improvement in 2012; inventories continue to decrease and prices are back on the rise.

To re-cap 2012 for Singer Island condos:

  • Condo re-sales on Singer Island increased a slight 2% over 2011; selling 168 units verse 165.
  • The list-to-sold price ratio was more favorable at 91% verse 89% last year.
  • Most of the short sales (mainly at the Resort) were liquidated in 2011; in that, 2012 saw only 8 sold equating to only 4.8% of the total sales transactions.
  • Price per square foot of the older condos (built 1969-1989) increased to $217/SF compared to $215/SF the year before.
  • Price per square foot of the newer condos (built 2003-2008) increased as well to $345 /SF compared to $325/SF last year.
  • Over three quarter (77%) of the units sold during this period were under $500K.
  • Singer Island oceanfront condo inventory trended down through 2012.

The real success story on Singer Island for 2012 has been at the Ritz Carlton Residences.  In 2011, there were 9 re-sales and 23 developer sales.  Sales ignited in 2012 with 4 re-sales and 39 developer sales, a 70% increase over 2011.  This places the property at 70% sold out.  The Walker Real Estate Group sold eight residences, alone, in the final days of the year worth over $12 million.

In the attached documents, we have provided detailed information regarding condos currently listed, pending and sold on Singer Island including recent price reductions, new listings and homes that have come back on the market.

Our market update (click on tab at the top of page) provides detailed information regarding condos currently listed, pending and sold on Singer Island including recent price reductions, new
listings and homes that have come back on the market.

Enjoy this information prepared just for you!

CALL us today for a free confidential meeting to discuss your real estate needs!

For more information on specific condominium sales activity contact Jeannie at 561-889-6734 or email her at [email protected].

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